$BTC The crypto market is down 3.15% to $2.33T in 24h, primarily caused by a macro-driven sell-off with $BTC leading the decline. It shows a strong correlation with the S&P 500, indicating a shared rates/dollar-driven move.
1. Weak U.S. jobs data and hawkish Fed commentary fueled a rates-driven selloff in equities, which crypto followed closely.


2. Leverage unwinding and sector weakness. Over $157M in BTC long liquidations amplified the drop, while Layer 1 and memecoin sectors underperformed the broader market.


3. If $BTC holds above the $2.27T market cap support (~$67K BTC), a consolidation between $2.27T–$2.4T is likely. A break below could trigger a retest of the February low near $2.17T.

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